Hungary

The global urban consumer landscape is increasingly complex and difficult to navigate. Which cities should you choose for your consumer business expansion? To answer this and other questions, we are introducing the Euromonitor International Cities…

Eastern Europe’s digital development continues as consumers increasingly embrace digital services. Consumers previously suspicious of the safety of online payments began to trust and value the convenience of fast and secure online payment methods as…

There are currently no store cards in circulation in Hungary. Magyar Cetelem Bank stopped offering store cards in 2008 and no retailers have since signalled any intention to relaunch such services. Instead, retailers are collaborating with banks to…

High investment and financial freedoms, a low tax burden, a good geographical location, and increasing potential for innovations have contributed to a favourable business environment in Hungary. However, the country’s government spending and fiscal…

Continuing depopulation in Hungary in 2021-2040 will be driven by natural decrease. Ageing will accelerate, affecting consumer trends and putting pressure on state finances. Urbanisation will quicken and Budapest will continue to be the most populous…

The normalisation of social activities and relaxation of COVID-19 restrictions positively impacted the tobacco market in 2022, leading to a rebound from its decline in 2021. Initially, there was optimism for the summer and rest of the year, as…

While alcoholic drinks in Hungary recorded substantially improved growth in total current value sales in 2022, this was primarily due to soaring inflation fuelled by the global recovery from COVID-19, the fallout of Russia’s invasion of Ukraine and…

While total volume sales of beer in Hungary continued to increase in 2022, growth was slower than in 2021 and by the end of the year they had still not reached pre-pandemic levels. Overall demand was constrained by rising prices and falling…

Like the other main areas of Hungary’s alcoholic drinks market, cider/perry saw growth in total volume sales slow sharply in 2022 as the rapidly rising cost of living prompted consumers to rein in discretionary spending. It continued to perform…

RTDs experienced a particularly steep slowdown in total volume sales growth in 2022. The category was more exposed than most as rapidly rising inflation led Hungarians to exercise greater caution in their spending decisions, as these products are…

Growth in total volume sales of spirits in 2022 was well down from 2021, with demand slowing sharply at the off- and on-trade levels. Because these products are comparatively expensive, the category was particularly exposed to more cautious attitudes…

Growth in total volume sales of wine slowed in 2022, with the category recording weaker off- and on-trade results in this regard as compared to 2021. Demand was depressed by steep unit price hikes and falling purchasing power as inflation in Hungary…

Retail volume sales of sales of chocolate confectionery saw a flat performance in 2023. With food prices rocketing, consumers were forced to reduce their expenditure on non-essential items. However, while, price hikes were inevitable, there was some…

Chewing gum saw a second year of decline in retail volume terms in 2023, albeit to a lesser extent than the previous year. Sales of chewing gum remain largely impulse-driven and with more Hungarians working from home, at least on a hybrid basis, they…

Retail sales of ice cream saw modest growth in volume terms in 2023, following the stagnant performance of the previous year. This was largely due to an increase in demand for take-home dairy ice cream, particularly bulk varieties, which represent…

Retail volume sales of savoury snacks saw continued growth in volume terms in 2023, thanks to the low cost of many of the products within the category. Lifestyle changes also had a positive impact on demand for snacks, including the ongoing trend…

Retail volume sales of snacks in Hungary saw a fairly flat performance in 2023. While growth was buoyant in current value terms, this was due to massive inflationary pressures, rather than any real upturn in demand. With Hungary having been added to…

Sugar confectionery saw a mixed performance in 2023, with volume growth rates varying according to subcategory. With food inflation running at record levels, retailers focussed on rationalising their product portfolios in favour of their best-selling…

In 2023, sweet biscuits, snack bars and fruit snacks continued to be impacted by temporary shortages of grain and other agricultural commodities, due to the ongoing war in Ukraine. Sweet biscuits and cereal bars suffered the most from these…

The Debrecen in Hungary report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital penetration,…

Volume sales of computers were impacted by several negative factors in 2023, including high maturity. Also, the surge in volume sales during the pandemic as people hurriedly tried to set up home offices meant that computers bought during that period…

High inflation affected volume sales of consumer electronics in Hungary in 2023. While strong value growth was recorded, overall volume sales were flat, with a weaker performance in the first half of the year. Strong demand for consumer electronics…

Whilst premium wireless headbands were popular during COVID-19 as they had more convenient features for both work and gaming, high inflation and rising prices deterred consumers from paying extra for them in 2023, therefore mass products performed…

Home audio and cinema recorded strong volume decline in 2023 as these products faced competition from wireless sound systems, the increasing sound quality of portable computers and smartphones, and a growing preference for compact and interior…

Televisions recorded slight volume growth in 2023, with OLED TVs seeing strong double-digit growth as consumers looked to upgrade their older televisions with screens offering high picture and sound quality, which are light and have more…

Volume sales of imaging devices again fell by a fifth in 2023 and value sales also registered decline. Continuing advances in smartphones’ cameras are leading to continual decline in imaging devices, to the extent that some smartphones can meet the…

In-car entertainment recorded further decline in 2023, negatively impacted by fewer sales of new cars due to a shortage of key parts and components needed for their manufacture, which also drove up prices in the year. Consumers had to wait a long…

Significant price rises and a high penetration rate in Hungary resulted in volume decline in smartphones in 2023. Fewer consumers were able to replace their smartphone and chose to postpone their purchases until prices were more stable, or they…

Portable players were hard to find in retail channels in 2023 and their sales were negligible as technology advances are leading to portable player devices becoming obsolete. In particular smartphone and tablets are replacing the need for portable…

Activity watches (analogue) were increasingly popular and recorded the highest volume growth in 2023 as these products are readily available and consumers prefer them to other activity bands without displays and traditional watches as they offer…

A low tax burden adds to Hungary’s economic freedom, but corruption remains an issue and state finances are under pressure. Economic performance has outpaced peers and unemployment is low, but inflation remains very high and will adversely impact…

The low cost carriers category looks set to record faster growth in current value sales than its full service counterpart in Hungary in 2023. This is partly because due to their focus on offering more affordable fares, leading low cost operators such…

Hungarians traditionally pay close attention to foreign exchange rates when planning trips abroad, particularly summer holidays, as fluctuations can cause travel expenses to increase significantly in a short period of time. This was the case…

Much like Budapest, smaller cities and regional areas in Hungary have witnessed significant increases in lodging supply in recent years, particularly since the easing of the pandemic and the ending of related restrictions. A key driver of growth in…

Growth in the number of outbound departures from Hungary in 2023 looks set to be well down on the previous year. This is mainly explained by the ongoing normalisation of travel flows following the strong rebound over 2021-2022 that resulted from the…

The Hungarian travel market has performed positively on the whole in 2023. Inbound, outbound and domestic trip numbers have increased strongly and come closer to their pre-pandemic levels, with diminishing concerns about COVID-19 and the ending of…

From October 2022, the government cut national support for milk formulas from 50% to 25%. This resulted in two-three times higher prices, with standard and special milk formulas having seen a rapid price increase during 2023. Many mothers still buy…

The increased price of baked goods and pastries, combined with the popularity of chef shows on TV and social media, has driven the popularity of baking at home. This is increasing retail volume sales of margarine and the moderate retail volume…

Following high double-digit price growth in 2022, the slight price decrease in 2023 positively influenced the retail volume growth of this market. However, cheese remains a product that is considered a non-basic food item by many, and as such, it is…

With inflation at over 25% in the first quarter of 2023, Hungary experienced the 10th-highest food-related price increase in the world. The high unit price in dairy products and alternatives was bolstered by the international price increase of raw…

In November 2022, the government placed a price cap on selected basic food, and the regulation was extended until 30 June 2023. The 2.8% fat content UHT cow milk was among the food with frozen prices, leading to minimal single-digit growth for the…

The international price of raw milk decreased in 2023, which resulted in a slight price compensation for sour cream and other dairy products. Besides, in order to break sanctioned inflation, the government introduced a new anti-inflation tool, which…

As in many countries, Hungary is seeing a notable rise in interest in plant-based diets, with many consumers looking to cut down their consumption of meat and dairy products, even if they are not fully committing to vegetarian or vegan diets.…

The leading market players' sales figures showed that customers preferred products that supported the immune system during the pandemic. This demand continued during 2023, with Actimel retaining a prominent position in the drinking yoghurt market.…

As consumption patterns continue to stabilise following three years of pandemic-induced disruption, the majority of analgesics categories in Hungary are projected to contract in volume terms in 2023. Rates of decline in most look set to be modest,…

While consumer health in Hungary is set to post robust growth in total current value sales in 2023, this is primarily due to inflationary pressures fuelled by the global recovery from the pandemic, the fallout of Russia’s invasion of Ukraine and the…

Most cough, cold and allergy (hay fever) remedies categories in Hungary are set to expand in volume terms in 2023 or record slower rates of decline than in 2022. Similar to the case with analgesics, the need for these products has been bolstered by…

All dermatologicals categories in Hungary are expected to post negative results in volume terms in 2023, in most cases for the second year in a row. Although a number of different factors have depressed demand in individual categories, the overall…

Growth in dietary supplements current value sales in 2023 is expected to be slower than in 2022, while the vast majority of categories are set to contract in volume terms for a second consecutive year. With Hungary experiencing the highest inflation…

While digestive remedies is poised to post robust growth in total current value sales in 2023, this is mainly due to substantial price hikes amidst persistently high inflation in Hungary. All categories are set to contract in volume terms, in part…